Hindustan Aeronautics Limited (HAL) has emerged victorious in the bid to manufacture India’s Small Satellite Launch Vehicle (SSLV), as announced by the Indian National Space Promotion and Authorization Center (IN-SPACe). Following this significant announcement, HAL’s stock experienced a notable increase, rising by 1.54% to reach ₹4,977.60.
Securing the winning bid of ₹511 crore, HAL will not only construct the SSLV but will also have the rights to own and commercialize its launches. This development signifies the first strategic transfer of rocket technology under the Indian government’s newly implemented space policy, which aims to liberalize the space sector.
In a highly competitive bidding process that attracted interest from around 20 companies, HAL distinguished itself as a solo bidder, successfully surpassing consortiums led by major players such as Adani Group’s Alpha Design and Bharat Dynamics Ltd.
The SSLV is engineered to carry payloads of up to 500 kg to low-Earth orbit, strategically positioning India to tap into the burgeoning global demand for small satellite deployment. Pawan Goenka, Chairperson of IN-SPACe, emphasized that this venture represents a pivotal milestone in cultivating a robust commercial space ecosystem within India.
The global low-Earth orbit launch vehicle market was valued at $13.9 billion in 2023, with projections indicating it could triple to $44 billion by 2032, according to Global Market Insights. Currently, India commands just 2% of the global space economy but is ambitiously seeking to expand from an $8 billion sector to a $44 billion one by 2030.
HAL’s successful bid is viewed as a significant advancement in India’s ambitions to enhance its space sector and position itself as a competitive contender in the international satellite launch arena.
